View Full Version : "This Week" spins the Fed

09-16-2012, 08:03 AM
Sunday the 16th, on ABC's This Week Stephanopolous said something I didn't expect him to say--the Fed is simply printing money. Former General Wesley Clark, who was obviously prepared to make economic pronouncements because every Army general is obviously qualified to call himself an economist, said inflation is under control(!). Liz Cheney said that all of this debt was Obama's; obviously the fact that the debt doubled (or more?!) while her father was vp didn't count. But the best statement of all? Well...

The original purpose of the Fed was to control inflation. Yes, this brilliant pronouncement was indeed uttered. Now tell me, if you were to create an institution to issue a fiat money and take your nation off the gold standard, is there a more ridiculous, hilarious excuse you could use than 'controlling inflation'?

No, this would not be the original purpose of the Federal Reserve. You don't need to be a student of history to know this. The statement is as asinine as the notion that there's an engine under the hood of your car because it makes the paint shinier.

This Week is now officially funnier than Saturday Night Live. They should rename it Sunday Morning Stupid.

09-18-2012, 08:28 AM
They are right, it was set up to control inflation...that's a feature, that it could inflate the currency and make it more elastic and stretchable, lol... :p